Earnings Per Share

12 Months Ended

Oct. 01, 2022

Earnings Per Share

Earnings Per Share

Note 14. Earnings Per Share

Basic and diluted earnings per share amounts are calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period, as follows:

	Year Ended
	October 1,		October 2,		October 3,
	2022		2021		2020
	(Restated)
	(In thousands, except per share amounts)
Numerator:
Net income	$	240,384	$	249,546	$	133,169
Denominator:
Weighted average common shares outstanding		61,310		65,318		69,041
Effect of dilutive stock options and restricted stock units		1,807		1,766		1,752
Denominator for diluted earnings per share		63,117		67,084		70,793
Net income per share:
Basic	$	3.92	$	3.82		1.93
Diluted	$	3.81	$	3.72		1.88

Weighted-average dilutive securities that were excluded from the above calculation because their inclusion would have had an anti-dilutive effect under ASC Topic 260, Earnings per Share, due to application of the treasury stock method were not material for any period presented.